Northcote Share Discussion Threads

[royalalbert] 20/1/2016 07:31

Read the RRR RNS as well as.

[writz] 20/1/2016 07:29

They're expecting near-term cash flow. They used the previous placing to reduce their liabilities. They have assets, and can foresee a shortfall that needs covering. Looks like they're taking sensible measures to keep the company afloat.

[keya5000] 20/1/2016 07:22

Jeez I think RC is incompetent. Gone through the last placing cash already.

No one will fund this and given that £0.3m was nearly a month ago they must now be out if cash.

Would have thought when oil was below 40$ they would have conserved that last placing cash to keep the lights on.

Crazy cash flow management.

Macro situation against them but can't help feeling the guy at the helm is not up to the job.

[sleveen] 20/1/2016 07:15

I told you NCT were skint even after the 23/11/15 placing:

As at 31 December 2015, Northcote had an unaudited cash balance of
approximately US$0.3m, Estimated other current assets of US$0.3m and current liabilities of US$1.1m; the effects of this Transaction will reduce current liabilities to approximately US$0.6m. The
Company expects to be generating cash flow near term once the LM20 well
commences production and is working on raising additional funds through asset
sales, as previously announced, or other corporate transactions. The Board is
confident that it will be able to raise the necessary working capital required
to support the Group's ongoing operations and will provide an update when these arrangements have been completed.


Placing ahoy...

[deanroberthunt] 18/1/2016 11:13

MXO & NCT in a race to 0p

[comedy] 18/1/2016 08:54

ps even though down thsi morning..still higher share price to pay to buy than friday...think quite a few getting hit and selling stocks...as those stocks get absorbed at cheap value...then share price will regain and we will get the multibaggers happening.:)

[comedy] 18/1/2016 08:53

sleveen so many oil stocks to buy...guessing the onews to survive is going to be key..we are due production to start...and if take stocks in aim...then most are all flying on hope and con values...so spreading risk and taking a 2 year timeline...think oil will turn sharply this year...need to watch the big short..out i think soon...shows it is oil they are now playing with...problem they have is their is no replacement to oil...and once consumed you cant use it again...so price will bounce back.:)

[deanroberthunt] 18/1/2016 08:42

soon be at cash.

[sleveen] 18/1/2016 08:36

With that many you should be able to buy at the next placing.

[comedy] 18/1/2016 08:35

well i topped up with 5 mill at close friday...gone over 20mill...see this as a potential 4 to 5 bagger and thats not even taking in euphoria...we are now at lows of 2007 in most oil stocks...if can buy and hold with 2 year timeline...may happen sooner...then looking for 10 baggers on the stocks that survive especially if the herd hits them.:) gl lookslike quiet day today so back to day job. have a nice day.

[noli] 16/1/2016 09:27

Thanks for the nice comments, I am still around and wont be selling. For anyone that follows the LSE site I post on there when I have something to say, this site just kills my computer with its pop ups. Don't worry about my holding or my paper loss, it was my decision to invest.

With the oil price on its knees at the moment we are just going down with the market and the other oilers, that's life and the oil price will bounce at some point and go the other way.

Imho, the biggest issue with NCT is the time it takes to get things done like the original 20 drill, all the delays have had a knock on effect which has effected us.

Anyway enough from me, I wont bore you all, happy posting.

[thehitman1] 15/1/2016 17:47

Lol here comes the plank.

[asturius101] 15/1/2016 15:26

Lol. I'm afraid they will be bust by Feb if this continues

[sleveen] 15/1/2016 11:20

MXO now down over 50% since the much acclaimed Mexican licenses were awarded.

[h4rvs87] 15/1/2016 11:11

MXO warrants are looking better by the day. That needs to over double now before we're even near to making a profit on them!

[deanroberthunt] 15/1/2016 10:29

not worth drilling wells with oil under $30...be better just sticking it in a bank account

[thehitman1] 15/1/2016 10:26

I did say, never invest in a company with billion shares in issue managed by a yank.

[control1] 14/1/2016 23:08

So long as this doesn't go bust you are probably right but the issue is and remains the number of shares in circulation here...

[turbotrader2] 14/1/2016 22:04

You may all be sorry soon

[h4rvs87] 14/1/2016 16:53

Ditto amoore. I managed to sell 75% of my holding the other day, a tiny bit higher than today. It's a shocker!

[amoore70] 14/1/2016 13:57

I was in at 0.17. But have no hope for this anymore. Down to 0.04 today.